Catenaa, Monday, October 26, 2026- SpaceX signed a chip financing deal worth about $40 billion with Apollo Global Management, Bloomberg News reported.
A filing by the Musk company, as Bloomberg News reported, said SpaceX has not finalized the interest rate for the financing arrangement.
Bloomberg News reported that the financing deal is expected to be finalized before the end of 2026, while equipment leasing is expected to begin in the first half of 2027.
SpaceX stock rose by less than 1% on Monday, while Tesla stock rose by about 6%.
Meanwhile, over the weekend, SpaceX CEO Elon Musk said access to debt is drying up for companies that rely solely on revenue from AI data centers.
“As of the past few weeks, debt markets have almost entirely shut off access to money for any company that doesn’t have substantial revenue independent of AI data centers,” wrote Musk on X on Sunday.
Musk added that SpaceX closed $40 billion in debt for Nvidia’s GPUs, or graphics processing units used for AI, but said the space company is “investment-grade” and has Starlink & rocket launch revenue, Yahoo Finance reported.
Musk, in a follow-up up post, said that this”is primarily callable debt for GPU purchases that will arrive in Q1 and Q2. Not a major factor this quarter.”
Musk’s remarks highlighted the financial pressures facing specialized AI cloud providers, whose business models often require substantial borrowing to buy computing hardware before earning revenue from customers.
SpaceX’s AI business brought in $7.6 billion in the third quarter, more than Starlink and the rocket business combined, and more than half of SpaceX’s $14.6 billion in total revenue.
Musk also took a shot at neoclouds, companies that rent out computing power and AI chips, saying they are “going to see guppy-level death and consolidation.”
“Some will make it through, but not many,” said Musk.
The warning followed a sharp rise in yields on CoreWeave’s corporate bonds, reflecting debt investors’ concerns about the company’s financing needs and exposure to AI infrastructure spending.
CoreWeave stock sank more than 2% on Monday; it is down more than 36% since September 28.
